07 Feb 2024
US Dollar on defensive after pullback from nearly 3-month peak
TOKYO/LONDON :The dollar fell on Wednesday, further retreating from a nearly three-month high against the euro hit a day earlier, with a decline in U.S. bond yields adding to the pressure.
Analysts pointed to technical factors for the dollar's pullback, following a two-day rally of as much as 1.4 per cent against the euro after unexpectedly strong U.S. jobs data, as well as more hawkish rhetoric from Federal Reserve Chair Jerome Powell, scuppered bets for an early interest rate cut.
